All Forum Posts by: Joe M.
Joe M. has started 46 posts and replied 407 times.
Post: New Member Introductions - Pharmacist interested in Real Estate
- Erie, PA
- Posts 413
- Votes 348
Hi Sarah,
Always nice to see Erie pop up. The Apartment Association has been great in being a resource for me. I recommend you checking it out.
Also, if you dont mind me asking-Why would you consider getting your real estate licence when you have such a high paying job? Seems like it would be way more lucrative to get as many hours as you can instead of "side hustling"
Post: Can you truly get ahead by buying turn-key homes
- Erie, PA
- Posts 413
- Votes 348
I guess my only input would be what are you doing with your 3 TK income? You should be getting close to an extra 1k a month. When you snowball that with however you earn other money, the process should pick up. So I think you CAN keep putting 25% down if you wanted to
Post: Unpopular Opinion: Goals should be grounded in REALITY
- Erie, PA
- Posts 413
- Votes 348
Listen to different podcasts if you are getting overwhelmed.
Post: Did not qualify for a mortgage. Any suggestions?
- Erie, PA
- Posts 413
- Votes 348
Ask them why you didnt qualify and try to fix the issue
Post: Students Rentals Investment
- Erie, PA
- Posts 413
- Votes 348
My only real advice is ask a lawyer. I wouldnt take legal advice from a realtor.
Post: Rent not paid. Property managment expecting eviction end of 2020.
- Erie, PA
- Posts 413
- Votes 348
No real help, but I know me personally would have a hard time still paying the PM...being his job is to collect rent
Post: Investing in Surrounding PGH Areas
- Erie, PA
- Posts 413
- Votes 348
Im from Erie and have family in Jeannette. Not sure how I can really help, but for both areas, be careful of the areas if you choose to go there. Both can have some rough areas
Post: Are these Gov moratoriums on evictions making you rethink REI?
- Erie, PA
- Posts 413
- Votes 348
Originally posted by @John Barrett:
@Joe M. The government policies regarding evictions have not caused me to change my thinking with regards to investing in real estate. While these policies are good political theater, most reasonable people acknowledge they are not beneficial to tenants or landlords in the long term.
While these regulations present additional risk that need to be accounted for when conducting your due diligence, to me the fundamentals of investing real estate continue to look good long term. I will adjust my screening and reserves to account for these risks. My belief is that real estate will provide superior returns to other asset classes so I choose to allocate my funds there.
Best of luck,
John
Appreciate the answer John. I probably worded my question wrong, but this was the type of reply I was hoping for. Thanks
Post: Are these Gov moratoriums on evictions making you rethink REI?
- Erie, PA
- Posts 413
- Votes 348
Originally posted by @John Barrett:
@Joe M. The government policies regarding evictions have not caused me to change my thinking with regards to investing in real estate. While these policies are good political theater, most reasonable people acknowledge they are not beneficial to tenants or landlords in the long term.
While these regulations present additional risk that need to be accounted for when conducting your due diligence, to me the fundamentals of investing real estate continue to look good long term. I will adjust my screening and reserves to account for these risks. My belief is that real estate will provide superior returns to other asset classes so I choose to allocate my funds there.
Best of luck,
John
Appreciate the answer John. I probably worded my question wrong, but this was the type of reply I was hoping for. Thanks
Post: California proposed giving tenants 10 years to pay their rent
- Erie, PA
- Posts 413
- Votes 348
Ppl think Im nuts, but it seems like a lot of investors here arent worried at all about these in their states. While some of these might not pass, it boggles my mind how there can be such little attention to them here.
Whats the return on a property if you cant make any money on them for 5, 6, 7 months? 10 years?